Senco Jewellers(P) Ltd, Kolkata V. DCIT, Kolkata

ITA 330/KOL/2023

• Counselvise Citation: [2023] 100 COUNSELVISE.COM (IT) 6488 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-10-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 09-08-2023
• Assessment Year: 2010-2011
• Appeal Filed On: 05-04-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Set aside
• Section: 143(1)

Judgement Text

आयकर अपीलीय अधिकरण कोलकाता 'एसएमसी' पीठ, कोलकाता म ें IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘SMC’ BENCH, KOLKATA श्री राज े श क ु मार, ल े खा सदस्य एवं श्री संजय शमा ा , न्याधयक सदस्य क े समक्ष Before SRI RAJESH KUMAR, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 330/KOL/2023 Assessment Year: 2010-11 Senco Jewellers Pvt. Ltd...........................................Appellant [PAN: AADCS 8947 C] Vs. DCIT, Circle-1(1), Kolkata.....................................Respondent Appearances by: Assessee represented by – Sh. Miraj D. Shah, A/R. Department represented by – Sh. Altaf Hussain, Addl. CIT. Date of concluding the hearing : August 10 th , 2023 Date of pronouncing the order : October 16 th , 2023 ORDER Per Rajesh Kumar, Accountant Member: This appeal is preferred by the assessee is against the order of Learned Commissioner of Income-tax (Appeals)- NFAC, Delhi [hereinafter referred to Ld. ‘CIT(A)’] dated 10.01.2023 for the Assessment Year (in short ‘AY’) 2014-15. I.T.A. No.: 330/KOL/2023 Assessment Year: 2010-11 Senco Jewellers Pvt. Ltd. Page 2 of 4 2. One of the grounds of appeal raised by the assessee is against the order of Ld. CIT(A) upholding the intimation u/s 143(1) of the Act wherein the claim of setting off of brought forward losses of Rs. 5,34,851/- against the current year income has been rejected by the AO, CPC. 3. The facts in brief are that the assessee during the year derived income of Rs. 5,34,851/- from business and the same was set off against the brought forward losses thereby declaring NIL income during the year. However, while filing the return, due to some technical mistake, the said claim was not allowed by the AO, CPC in the intimation passed u/s 143(1) of the Act dated 18.05.2011. The Ld. CIT(A) dismissed the appeal of the assessee citing the technical reasons as stated in para 3 of the appellate order. 4. After hearing the rival contentions and perusing the material on record, we find that the claim of set off of brought forward losses of Rs. 5,34,851/- against the current year income from business is to be allowed to the assessee if the assessee has brought forward losses from the earlier year. We have examined the copies of returns filed by the assessee before us and find that the total brought forward losses from AY 2009-10 were to the tune of Rs. 19,06,032/- out of which the assessee has set off Rs. 5,34,851/- against the current year income and the remaining loss of Rs. 13,71,181/- was carried forward for future set off. The Ld. CIT(A) dismissed the appeal of the assessee by upholding the intimation/order passed u/s 143(1) of the Act thereby denying the assessee a legitimate claim of set off of brought forward losses I.T.A. No.: 330/KOL/2023 Assessment Year: 2010-11 Senco Jewellers Pvt. Ltd. Page 3 of 4 against the current year income. We also note that Ld. CIT(A) in para 3 of the appellate order has stated that the appeal of the assessee has already been disposed off vide order dated 29.02.2016 which was claimed to have never been served upon the assessee while the appeal was still being shown to be pending in ITBA Portal which is very conflicting and contradictory itself. Accordingly, we set aside the order of Ld. CIT(A) and direct the AO to allow the claim of set off of Rs. 5,34,851/- against the current year income. It is pertinent to state that the observation of Ld. CIT(A) in para 3 of the appellate order that appeal of the assessee has already been disposed off vide order dated 29.02.2016 while the same continued to be shown as pending in the ITBA Portal is also expunged from the said order. 5. In the result, the appeal filed by the assessee is allowed. Kolkata, the 16 th October, 2023. Sd/- Sd/- [Sonjoy Sarma] [Rajesh Kumar] Judicial Member Accountant Member Dated: 16.10.2023 Bidhan (P.S.) I.T.A. No.: 330/KOL/2023 Assessment Year: 2010-11 Senco Jewellers Pvt. Ltd. Page 4 of 4 Copy of the order forwarded to: 1. Senco Jewellers Pvt. Ltd., 168, bipin Behari, Ganguly Street, Kolkata-700 012. 2. DCIT, Circle-1(1), Kolkata. 3. CIT(A)-NFAC, Delhi. 4. CIT- 5. CIT(DR), Kolkata Benches, Kolkata. //True copy // By order Assistant Registrar ITAT, Kolkata Benches Kolkata